Voters have made it clear they want inclusive growth and a break from polarising politics
Sustained high growth will need hard reforms
Some economists, including former RBI Governor Raghuram Rajan, have said recently that India should focus on services sector rather than manufacturing as it has missed that opportunity
Further, the analysis of India's top 50 most valued Indian unicorns in the study revealed that 66 per cent of them were already using AI or GenAI technology in their operations
GCCs are offshore centres that handle a variety of operations like tech, customer service, finance and product development, among other things to support the parent company
Companies are utilising GCCs as a "sandbox environment" to develop PoCs that accelerate their digital journey by leveraging GenAI across relevant domains
Achieving gender parity, however, remains a challenge in Deeptech organisations, where the percentage of women workforce stands at mere 23 per cent, according to the report
Most GCCs in India support critical business goals by using AI, data analytics, robotic process automation, and cloud services
India could see a substantial growth of USD 359-438 billion in GDP through adoption of GenAI and the country's Global Capability Centres (GCC) market would exceed USD 100 billion by 2030, Deloitte India said in a report. The Technology Trends 2024 report: India perspective said GCCs are taking the lead in 2024, showcasing India's growing prowess in catering to international technology needs. "With over 1,600 GCCs, India's GCC market is growing and creating its dominance globally. It is estimated that by 2030, the Indian GCC market would exceed USD 100 billion, with 2,500 GCCs across the country employing over 4.5 million people," it said. The report pointed out a close connection between technological adoption and accelerated economic growth. Improved accessibility and government initiatives, it said, have led to a significant surge in digital technology adoption. It said advanced technologies offer avenues for growth and efficiency, such as automating tax filing, using blockchai
At Business Standard Manthan, Ashwini Vaishnaw said that the Centre would create a policy framework for the Global Capability Centres
WeWork plans to inaugurate its first building in Chennai in early June. Currently, the company is spread out across 54 locations with more than 90,000 desks across seven cities
In November 2023, Aster DM had received corporate approvals to separate its India and Gulf Cooperation Council (GCC) businesses into two distinct and standalone entities
India is home to more than 1,580 GCCs, with a total market size of $46 billion
Indian GCCs have become "value amplifiers" for their global headquarters
Operationalise 30 Skill India International Centres by March: House Panel
The carmaker is looking at exporting the new EV to southeast Asia, Gulf Cooperation Council (GCC) countries and North Africa
Plots on offer are part of a multiple-use zone suitable for office, residential, and hospitality
GCCs are offshore units of multinational corporations that operate across the globe
Chennai witnessed the highest GCC focussed transactions at 6 msf, followed by Hyderabad at 4.1 msf and Bengaluru at 3.8 msf
As companies continue to grow and invest in disruptive technologies, they have to ensure there is a sufficient supply of talent as they scale operations